Racing to the bottom

TorgoX on 2002-05-11T09:39:16

«While developed countries were able to "lock in" the benefits of technology, research and development and brand, their poorer trading partners were left competing against each other to provide low-cost labour. "Competition among firms, including international ones, in developing countries becomes competition among labour located in different countries," the report says.»

--"Poor miss out as rich nations cream off their trade"